Coventry City are set to benefit from a seven figure cash boost following the completion of Callum Wilson’s move to Newcastle United.
The Cov Kid has switched from relegated Bournemouth in a reported £20million move to St James’ Park in order to stay in the Premier League.
And the Sky Blues will finally receive a significant payment from a sell-on clause inserted in the deal that saw the now England striker join AFC Bournemouth for around £3m back in July 2014.
The sell-on clause is understood to be between 10-15 per cent of the latest fee, minus what the club initially received for his services.
That means, if the figures are correct, Coventry will get a percentage of around £17m (£20m minus £3m) which should provide a minimum of £1.7m, based on 10 per cent.
Whether Mark Robins will see any of the money remains to be seen but, given that the club have known that Wilson was expected to be sold this summer after Bournemouth slipped out of the top flight, the likelihood is that the cash will already have been factored into the budget.
City have already shelled out significant funds on several players, having signed nine so far in the current transfer window including over £1m for Gustavo Hamer.
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And given the on-going financial hit the club are taking due to COVID-19, and fact that no fans are currently allowed at games, any fresh funds are likely to be used for general club housekeeping rather than providing a fresh transfer kitty for the manager.
Wilson has been unveiled by the Magpies and is clear to make his debut against West Ham United on Saturday after agreeing a four-year deal.
The former Sky Blues Academy graduate said: “From the minute I knew that Newcastle were interested, it was definitely something that appealed to me.
“It’s a massive club with great history. Along the years, they’ve had great strikers so if I can emulate half of what they’ve done, I’d like to attempt that.
“I believe in my ability as a player. As a striker I think it’s important to set yourself goals long term and short term, and I’m hoping to achieve them.
“With the players around me, I believe we can get the goals we need as team and I want to help contribute to that.”
A delighted head coach Steve Bruce added: Callum is somebody I’ve admired for a long time and I’m delighted to get him.
“He has done fantastically well at Bournemouth and was deservedly playing centre forward for England less than two years ago.
“The club has worked ever so hard to get Callum here and we have beaten off competition from a number of clubs.
“I’m grateful the club has made it happen. Lee Charnley and those behind the scenes deserve a lot of credit.”